Dutch TTF Gas Holds Above $92 as Middle East Conflict and Low Storage Tighten Winter Supply
Updated
Updated · OilPrice.com · Sep 16
Dutch TTF Gas Holds Above $92 as Middle East Conflict and Low Storage Tighten Winter Supply
1 articles · Updated · OilPrice.com · Sep 16
Summary
$92.95 per MWh — Europe’s benchmark Dutch TTF front-month gas price rose 0.3% on Wednesday, staying above 80 euros and near highs last seen during the 2022-2023 energy crisis.
Low storage and worsening Middle East disruption are driving the rally, with Saudi Arabia’s shutdown of its East-West oil pipeline adding to fears over oil and gas flows through the region.
Europe is approaching winter with some of its lowest gas inventories in two decades after war-hit LNG supply from Qatar tightened the market and intensified competition for cargoes outside geopolitical chokepoints.
$28.40 per MMBtu — Northeast Asia spot LNG prices jumped $2.70 from last week, underscoring a global market that ING says remains too tight for Europe to comfortably reach its 75% pre-winter storage target.